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It depends upon the state.
MY NJ daughter kept her NJ license while she attended college in Massachusetts. She could have voted and was even eligible for jury duty in that state but for tax and other purposes was still a NJ resident.
Don't get one if you don't want to be summoned for jury duty. If you are local you cannot use the excuse of being out of town for school or work. In university towns OOS plates and DL's are expected.
This can be YMMV.
Many friends/colleagues and I received jury summonses from both our college towns and home states even though I registered to vote in my college town for convenience and voted for the very first time there.
However, back then it seemed to be much easier to get exempted by claiming college student status even in one's voting area than it is currently.